NEWS: SPL enhances its BEE capability

Johannesburg, 17 March 2006] – Service Parts Logistics (SPL) today announced the details of a new BEE deal. This latest transaction sees the ‘Lelapa Trust’ becoming an equity partner in SPL.

“We are very excited to announce an empowerment deal that sees the Lelapa Trust acquire an equity stake in SPL. The Lelapa Trust is the empowerment vehicle for HDI (historically disadvantaged individuals) staff within the Microtek group. We have over the last year, been assessing BEE partners who could add value to our company while not compromising the culture within SPL. We are pleased that ownership and benefit can be passed onto the people who make our company tick,” commented Steve Cox, CEO of SPL.

“Our senior HDI staff have now also become co-owners of the business together with the Lelapa Trust. We believe that the first place to start empowerment is within our own community. The Lelapa Trust, which means ‘family’, will directly benefit our employees.

“We are fully committed to do the right thing for the business and reward our people for their loyalty and hard work and ensure we continue to be an entrepreneurial company,” continued Cox. “This has been our key for success in the past.”

“As part of the above deal, Craig Chetty, Vernon Desai and Yogan Naiker have been appointed to the board of SPL,” concluded Cox. “We have already achieved tremendous success in developing and training our people to management positions and working hard in the procurement and enterprise development arenas, and these latest appointments underpin that scenario.”

SPL now feels well placed to better serve its customers and community and to fully take its place in the transformation process.

For further information, please contact Steve Cox at telephone (011) 699 3300; fax (011) 759 7093 e-mail steve@microtek.co.za.